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OECD Pillar One

OECD Pillar Two (Global Minimum Tax)

U.S. Tax Incentives Could be Caught in the Global Minimum Tax Crossfire

The current prospect for the global minimum tax requires the attention of U.S. lawmakers. Otherwise, a tax benefit at home will just mean a tax increase abroad.

States Should Act Fast on UC Trust Fund Deposits, and Other Takeaways from the New Treasury Guidance on ARPA Funding

States will continue to cut taxes because revenues are skyrocketing. But some will also be keeping a close eye on litigation targeting this dubious restriction on states’ fiscal autonomy.

Tennessee Should Build on Success and Improve Corporate Taxes

While Tennessee now boasts no individual income tax, there is still more work to be done for businesses—Tennessee is in a good position to get the job done.

Testimony: Kansas Should Keep Groceries in the Sales Tax Base

Tax relief can take many different forms, but not all tax cuts have the same effects. Ultimately, maintaining broad tax bases while reducing tax rates is a more neutral and less complex approach than further narrowing an already-narrow sales tax base.

VAT Rates in Europe, 2022

The VAT is a consumption tax assessed on the value added in each production stage of a good or service. Every business along the value chain receives a tax credit for the VAT already paid. The end consumer does not, making it a tax on final consumption.

Mississippi Nears Income Tax Repeal but Additional Work Is Necessary

Before declaring victory, it is imperative to get the details right. The latest proposal is a drastic improvement over the last one, but there is still more work to be done if the Magnolia State is to sustain the intended transformation.

Taxes, Fiscal Policy, and Inflation

Consumer prices rose by 7 percent in 2021, the highest annual rate of inflation since 1982. Where did this inflation come from and what might its impacts be? Tax and fiscal policy offer important clues.

Summary of the Latest Federal Income Tax Data, 2022 Update

The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.